You Win £80m On The Lottery Tonight?

[Eater Sundae]

I'd go public I think. Trying to keep it a secret would be basically impossible, so why bother.

Quit work, close up company, have a party for all my friends, on me of course.

I've got a spreadsheet somewhere that says how much % to give to various people. Decided in advance you see when it's easy to do because it's just theoretical. Obviously I only get 50% of the win, the wife gets the other 50%, and I think I decided that 10% of my share gets given to friends and family. So that's 4 million that gets split between F&F.

So I've got £36 million left in my share. I'd set up 25 million for future income, which leaves me 11 million to spend :-)

New house, still in the Sheffield area, peak district probably. New car, maybe 2. Holiday, with selected friends and family invited if they can take the time off. Can't think of anything else that I'd be in a rush to buy/do.

 

The 25 million, if it returns 4%, makes an annual income of 1 million, and the wife should have a similar income. If we didn't spend all of that then the capital should (at current rates) at least not be eroded by inflation.

 

 

---------- Post added 09-06-2015 at 11:36 ----------

 

You don't think they'd be concerned about money appearing in their bank accounts? (How would you get their bank account details).

Or that they'd just figure it out?

 

---------- Post added 09-06-2015 at 11:42 ----------

 

Anything above 3k given as a gift will still be counted in your estate if you die within 7 years. If you don't die, then it's irrelevant, give as much as you want to whoever you want with no liability.

 

Re bib. My thoughts were that if I gave a lump sum to my (fairly elderly) brothers for them to trickle down to their kids and grand kids, there are lots of people in the chain who could potentially die and incur inheritance tax, If I were to give it directly to his kids and grand kids in line with his wishes, then inheritance tax only depends on whether or not I die. Although I'll probably wait until I win before I bother sorting out all the details.

 

Also, I'd better remember to buy a ticket sometime today.

 

I'd better make sure I remember my Sheffield Forum password for when I try to log on from somewhere in the Maldives on Wednesday evening.

[tzijlstra]

 

1. Would you go public and receive the big cheque?
   
2. What would be the very first thing you did after receiving the money?
   
3. How much would you give away to charity/friends?
   
4. What would be your big major indulgence? (house, boat, Bugatti)
   

 

 

I am destined to win this one day, I keep dreaming about it so it must be true, thus I planned it:

 

I will not go public. I don't see the point in alerting half the worlds vultures and crows.

 

When I receive the money I will sit down with my other half and discuss how to secure our long term future with half of it, where to spend quarter of it on luxuries (as discussed below) and decide how the other quarter can be put into a charitable fund to aid our family and loved ones as well as fund a PhD studentship for the long term.

I would not give away any of the actual cash, the charitable fund's interest would have to satisfy their requests - however, the charity could take the shape of a property portfolio that they could rent from at a significant discount.

 

So, the indulgence: An estate in Scotland with room for staff and visiting friends/family and with direct access to the sea/ocean and mooring for at least 3 vessels. A 40 to 50-foot Ocean Sailer to explore the globe, a 35 foot motor-cruiser capable of sailing the Frisian lakes (no more draft than 1.3 meters, would have to be a vlet of some sort, this could stay in Friesland permanently in a boathouse there) and a coastal boat to take out for fishing trips, dolphin and orca spotting and the like.

[Eater Sundae]

Hmm, might work.

 

Or they might just refuse it as being way too suspicious and odd.

 

Or just claim to be a Nigerian Prince wanting to give them money.. that should work.

[Bonzo77]

I'd not go public and I'd give it all away.

[L00b]

Or they might just refuse it as being way too suspicious and odd

Their loss if they do

 

It'd be free money without strings, I'm not going to beg them to take it or put a gun to their head.

 

The form of giving would just be a bit unconventional, but that's because preserving the anonymity of the source would be paramount: I've seen and suffered enough heartache with families out of money matters already (debts, compo payments, etc.), so much in many years gone by as more recently, to offer any flexibility about that.

Edited June 9, 2015 by L00b

[PeteMorris]

I think there's probably a lot of pressure exerted by the lottery people to actually go public...Although the chances of me actually finding out are pretty remote

[RonJeremy]

What are your answers to the 4 questions below and why?

 

1. Would you go public and receive the big cheque?
   
2. What would be the very first thing you did after receiving the money?
   
3. How much would you give away to charity/friends?
   
4. What would be your big major indulgence? (house, boat, Bugatti)
   

Note:- Before the typical SF members come on and say "I dont do the lottery cause its just a way for the government to tax the poor" etc

 

 

Its just a bit of fun, you dont have to participate.

 

---------- Post added 09-06-2015 at 11:00 ----------

 

I'll go first...

1. I would not go public.....i really dont understand those people who do
   
2. I would book and trip to the Maldives and not tell anyone to give myself 2 weeks to figure out my next move.
   
3. Id give £10m away to family/friends/charity
   
4. Id buy a big house in Alderley Edge for around £4m
   

 

Generally, i think id spend the next few years travelling and enjoying the high-life.

 

1. Not in several lifetimes would I go public, ever.

2. Retire

3. Family I would see right - charity in the long term I would be very careful.

4. Buy lots of houses around the place and a big(ish) boat. Oh and a 458. And at long last I could actually vote Labour, cause I wouldn't have to run a business and worry about making ends meet and stuff everyone else they can suffer under a Labour Government.

[Cyclone]

Or just claim to be a Nigerian Prince wanting to give them money.. that should work.

 

They just need to put up the £10 transfer fee first, right

 

---------- Post added 09-06-2015 at 12:55 ----------

 

Their loss if they do

Well yes, I suppose. But hardly surprising TBH.

If you want to give them money, then why all the cloak and dagger games? Just give them the money.

It'd be free money without strings, I'm not going to beg them to take it or put a gun to their head.

Which doesn't at all ring alarm bells for anyone

 

The form of giving would just be a bit unconventional, but that's because preserving the anonymity of the source would be paramount: I've seen and suffered enough heartache with families out of money matters already (debts, compo payments, etc.), so much in many years gone by as more recently, to offer any flexibility about that.

Fair enough. I understand where you're coming from, I just think this method is likely to cause different complications.

 

I suspect that my greatest problem would be getting my parents to actually accept any money from me.

Which makes me think, gifting money up the tree like that may not actually be smart. Parents being what they are, aren't likely to spend it all, so it'll be coming back at some point, minus 40% inheritance tax!

Perhaps a theoretical balance against which they can draw, but not belonging to them would be better. Some kind of family fund maybe, with different drawing allowances for different members.

[top4718]

1. No publicity, it just attracts the wrong sort

2. Holiday for a month (at least) to form a plan of action

3. Pay bills of family and close friends, I'd be very selective with charities after reading what the CEO's are earning yesterday

4. House + Holiday home + car for indulgences.

[Eater Sundae]

They just need to put up the £10 transfer fee first, right

 

---------- Post added 09-06-2015 at 12:55 ----------

 

Well yes, I suppose. But hardly surprising TBH.

If you want to give them money, then why all the cloak and dagger games? Just give them the money.

Which doesn't at all ring alarm bells for anyone

Fair enough. I understand where you're coming from, I just think this method is likely to cause different complications.

 

I suspect that my greatest problem would be getting my parents to actually accept any money from me.

Which makes me think, gifting money up the tree like that may not actually be smart. Parents being what they are, aren't likely to spend it all, so it'll be coming back at some point, minus 40% inheritance tax!

Perhaps a theoretical balance against which they can draw, but not belonging to them would be better. Some kind of family fund maybe, with different drawing allowances for different members.

 

That's certainly be what I'd look to do for my wife's parents, who are both in their 80s.